DOT Drops 2.7% as Nets Give Back Some of Yesterday's Gains

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Liberace

died on this day 13 years ago.

TheStreet.com Internet Sector

index, or DOT, dropped 31.3, or 2.7%, to 1140.3 today.

Coincidence? Maybe not. Both were flashy, wildly popular and the subject of more speculation than a plot of Texan soil in the 1800s.

It's a fun thought, but the DOT's tribute to the ivory-twinkling, candelabra-toting Vegas legend has more to do with Internet plays easing and giving back some of

yesterday's mammoth 5.6% gain. A handful of yesterday's best were today's worst.

RealNetworks

(RNWK) - Get Report

was RealBad, hurting the DOT and landing itself at the top of

Nasdaq's

list of point-losers. It fell 9 15/16, or 5.9%, to 157 7/8. Today's loss erases most of the gains that the company made this week. It opened at 157 7/16 on Monday and had gained 5.9% through yesterday's close, jumping almost 10 points.

A RealNetworks' competitor faired pretty well today.

InterVU

(ITVU)

, which delivers live and on-demand video through the Web, rose 15 7/8, or 15.7%, to 117, making it one of Nasdaq's biggest point-gainers.

America Online's

(AOL)

joint venture with

Bertelsmann AG

,

AOL Europe

, announced that subscribers increased by 1 million since mid-September, coming in at 3.8 million. Apparently Germans love AOL Europe almost as much as

David Hasselhoff

because more than half of that increase occurred in Germany.

Despite the news, AOL hurt the DOT, falling 2 1/2, or 4.2%, to 57 3/8. The company has been easing since Wednesday, when it jumped 5 5/8 to 60 7/8.

Elsewhere in the DOT, a handful of stocks were in the news today.

CMGI

(CMGI)

announced the purchase of a 4.9% stake in

interVentures

, a Chicago-based Internet venture firm. The windy city blows -- CMGI fell 6, or 4.8%, to 118 9/16.

Go.com

(GO) - Get Report

coulda been a contenda on the DOT, but traded early gains for a slight loss. It dropped 1/16 to 27 13/16, despite the fact that

Goldman Sachs

started the

Disney

(DIS) - Get Report

-unit at market outperform.

Content was King today. As in "Louis XIV."

The virtual peacock plucked.

NBC Internet

(NBCI)

fell 9 11/16, or 11.9%, to 72. Content deliverer

Akamai Technologies

(AKAM) - Get Report

dropped 13 3/8, or 5.5%, to 235. Real estater and content creator

homestore.com

(HOMS)

fell 2 3/4, or 2.6%, to 102 3/4.

Overseas Internet names fared better.

Criminy! UK-based

Freeserve

(FREE)

rose 24 1/2, or 20.3%, to 146 after its CEO, John Pluthero, mentioned that the company was actively searching for a provider of health care content, according to a

Reuters

interview.

"We don't have a health care channel and that is one of the priorities we are working on at the moment," Pluthero said. "We are fairly close to concluding our conversations with big players in that space."

Another Brit fared well in the colonies today.

Scoot.com

(SCOP)

, which makes an online British yellow pages, rose 15, or 25.9%, to 73.

European-based

QXL.com

(QXLC)

leapt 16, or 18%, to 104 after Goldman Sachs started coverage at outperform. Along with the coverage initiation, Goldie made some very bullish comments about the company, calling it one of the few key long-term Internet franchise companies.

The notable exception amongst international Internet names was Spain-based

Terra Networks S.A.

(TRRA)

, which announced that CEO Juan Perea would be leaving the company. Jose Antonio Sanchez, director general of the company, also left Terra.

Don't cry for me... OK, cry. Terra fell 5 5/8, or 5.8%, to 91 3/4.

Business-to-business is one thing, but beef-to-beef?

A different breed of B2B hit the markets for its first day of trading and lassoed some serious gains. After a false start, online cattle auctioneer

Emerge Interactive

(EMRG)

gained 31 7/8, or 212.5%, to 47 1/4.